211 CMR 132.08 - Penalties
Current through Register 1466, April 1, 2022
(1) A company
neglecting to submit with its annual statement an Actuarial Opinion in
accordance with M.G.L. c. 175, § 9B and
211 CMR 132.00 and within
the time provided by M.G.L. c. 175, § 25 shall forfeit $100.00 for each
day during which such neglect continues, and, upon notice by the Commissioner,
its authority to do new business shall cease while such default continues
without any proceedings under M.G.L. c. 175, §§ 5 or 6.
(2) The Commissioner may notify the Actuarial
Board for Counseling and Discipline of any violation of M.G.L. c. 175, §
9B or
211 CMR 132.00 by a
Qualified Actuary.
Notes
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